Reuters to cut management jobs

The UK electronic information group Reuters is making job
cuts as it restructures the business before the arrival of its new chief
executive.

About 50 jobs are to go in central management but the
company declined to comment on the reports that 500 jobs are under threat among
the group’s 17,000 staff worldwide.

Reuters will reorganise its business operations around
several key customer sectors including banking and brokerage, treasury, asset
management and corporates and media.

The main beneficiary of the restructuring is Philip Green, head
of Reuters Financial, who is to assume the newly created role of chief operating
officer. Casualties include Rob Rowley, the chief executive of Reuterspace, the
internet arm of the company, and Jean-Claude Marchand, the group marketing
director.